SeaCrest Wealth Management LLC Takes $34,000 Position in Cenovus Energy Inc. (NYSE:CVE)

SeaCrest Wealth Management LLC acquired a new stake in Cenovus Energy Inc. (NYSE:CVEGet Rating) (TSE:CVE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,772 shares of the oil and gas company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CVE. Truist Financial Corp raised its holdings in Cenovus Energy by 43.4% in the first quarter. Truist Financial Corp now owns 14,518 shares of the oil and gas company’s stock valued at $242,000 after acquiring an additional 4,392 shares in the last quarter. Van ECK Associates Corp raised its holdings in Cenovus Energy by 60.2% in the second quarter. Van ECK Associates Corp now owns 25,148 shares of the oil and gas company’s stock valued at $478,000 after acquiring an additional 9,455 shares in the last quarter. TD Asset Management Inc. raised its holdings in Cenovus Energy by 5.6% in the first quarter. TD Asset Management Inc. now owns 37,767,355 shares of the oil and gas company’s stock valued at $630,136,000 after acquiring an additional 1,990,194 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in Cenovus Energy by 61.2% in the second quarter. Gateway Investment Advisers LLC now owns 406,564 shares of the oil and gas company’s stock valued at $7,729,000 after acquiring an additional 154,398 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Cenovus Energy by 67.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,233,363 shares of the oil and gas company’s stock valued at $320,528,000 after acquiring an additional 7,734,187 shares in the last quarter. Hedge funds and other institutional investors own 50.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Credit Suisse Group reduced their target price on shares of Cenovus Energy from C$37.00 to C$35.00 in a report on Monday. The Goldman Sachs Group cut shares of Cenovus Energy from a “buy” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Monday. National Bank Financial cut their price objective on shares of Cenovus Energy from C$38.00 to C$36.00 in a report on Friday, September 30th. Scotiabank cut their price objective on shares of Cenovus Energy from C$34.00 to C$33.00 in a report on Thursday, October 13th. Finally, Jefferies Financial Group initiated coverage on shares of Cenovus Energy in a report on Wednesday, October 19th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.56.

Cenovus Energy Stock Performance

Shares of Cenovus Energy stock opened at $20.52 on Wednesday. The firm’s fifty day simple moving average is $18.72 and its 200-day simple moving average is $19.15. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 10.21 and a beta of 2.33. Cenovus Energy Inc. has a 12 month low of $10.72 and a 12 month high of $24.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.55 and a quick ratio of 1.00.

Cenovus Energy Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a $0.114 dividend. The ex-dividend date of this dividend is Thursday, November 17th. Cenovus Energy’s payout ratio is 14.93%.

Cenovus Energy Company Profile

(Get Rating)

Cenovus Energy Inc, together with its subsidiaries, develops, produces, and markets crude oil, natural gas liquids, and natural gas in Canada, the United States, and the Asia Pacific region. The company operates through Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Retail segments.

See Also

Institutional Ownership by Quarter for Cenovus Energy (NYSE:CVE)

Receive News & Ratings for Cenovus Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cenovus Energy and related companies with MarketBeat.com's FREE daily email newsletter.